Competition Bureau blocks Historia, Series+ sale

Bell Media's bid for the Corus properties is still to be reviewed by the CRTC.

The Commissioner of Competition has rejected Corus Entertainment’s sale of French-language channels Historia and Séries+ to Bell Media.

“At this time, Corus Entertainment and Bell Media are reviewing the Commissioner’s decision, and considering the appropriate course of action,” read a statement issued by Corus on Monday (May 28). The media co said it will provide updates in due course.

Bell Media and Corus first announced the proposed transaction (valued at approximately $200 million) in October 2017. At the time, the companies said they expected the deal to close in mid-2018.

In addition to Competition Act approval, the sale is also subject to the CRTC’s consent as well as a number of other standard closing conditions. The transaction is currently being reviewed by the CRTC. Any changes of control or ownership of licensed undertakings must comply with legislation administered by both the Competition Bureau and the CRTC.